News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bullish
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • The Federal Reserve System (the Fed) was founded in 1913 by the United States Congress. The Fed’s actions and policies have a major impact on currency value, affecting many trades involving the US Dollar. Learn more about the Fed here: https://t.co/ADSC4sIHrP https://t.co/eRTdlhAOFN
  • The Japanese #Yen may continue to exhibit a bullish behavior as the Bank of Japan (BoJ) appears to be in no rush to alter the path for monetary policy. Get your #currencies update from @DavidJSong here: https://t.co/HFjc6KGzRw
  • The New Zealand Dollar appears poised to extend its climb against its haven-associated counterparts as long-term trend break hints at cyclical upturn. Get your $NZDUSD market update from @DanielGMoss here: https://t.co/CPxP1Q8B6d https://t.co/n2wESiqnpJ
  • The US Dollar may rise against ASEAN currencies like the Singapore Dollar if local retail sales and sentiment data disappoints. USD/IDR may fall on the Bank of Indonesia. Get your market update from @ddubrovskyFX here:https://t.co/HpH8pXFdLl https://t.co/laHmaZXpJe
  • The US Dollar may rise against the Singapore Dollar and Philippine Peso. USD/MYR’s downtrend holds, but a bullish pattern brews. USD/IDR seems stuck between key technical levels.Get youe #ASEAN currencies market update from @ddubrovskyFX here:https://t.co/TF6DRVp6kX https://t.co/WEtxkdSwxD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/UVvf51HiVP https://t.co/4wlRjBTCzK
  • The #Dollar has bottoming potential, but that is starting to lose weight as it fails to sustain any lift; next week could be a big one for #USD’s near-term outlook. Get your #currencies update from @PaulRobinsonFX here: https://t.co/IifHjik7gM https://t.co/R9b4jdTPnO
  • Emotions are often a key driving force behind #FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:https://t.co/eILWbFgHRE https://t.co/lW1rqjpy0x
  • I’d like to thank my followers, I just reached 5,000 which is quite a milestone for someone that isn’t a huge fan of the platform. Thank you all very much ❤️
  • Technology stocks continue to be a source of weakness for US equities, undermining risk appetite. Meanwhile, US-China tensions simmer beneath the surface creating uncertainty. Get your #equities update from @PeterHanksFX here: https://t.co/yH8oTwT3iW https://t.co/tvfrXThyaC
Australian Dollar Gains as RBA Rate Cut Bets Deteriorate

Australian Dollar Gains as RBA Rate Cut Bets Deteriorate

Share:

Talking Points:

  • Australian Dollar rallies versus USD ahead of RBA rate decision
  • Australian Current Account and Chinese PMI crossed the wires
  • RBA rate cut bets appeared to deteriorate in data’s aftermath

Find key turning points for the Australian Dollar with DailyFX SSI

The Australian Dollar began rallying against its US counterpart after the Australian Bureau of Statistics released the nation’s Current Account figures. The country’s deficit narrowed to –A$18.1 billion in the third quarter from –A$20.5 billion in the second. More importantly, net exports were shown to have added 1.5 percent to overall GDP, topping forecasts calling for a 1.2 percent reading. This is the largest contribution from the external sector in about six years. Investors cheered the outcome, which seemed to dull worries about negative knock-on effects from slowdown in China.

As for China itself, the country’s Non-manufacturing PMI for November was leaked shortly thereafter and fueled further Aussie gains. The reading came in at 53.6, beating September’s 53.1 result and pointing to faster service-sector activity growth. The Manufacturing PMI figure crossed the wires minutes later and missed the 49.8 estimate, coming in at 49.6. The AUD/USD briefly paused its rally and corrected lower, but the move would prove to be short-lived.

Overall, the data appeared to decrease RBA rate cut bets in the near-term. The markets are not expecting the central bank to reduce its interest rate at the December policy meeting. In addition, the priced-in probability of a 25bps RBA rate cut in the next 12 months is now hovering near a four-month low at 64 percent.

Australian Dollar Gains as RBA Rate Cut Bets Deteriorate

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES